Opinion on Algonquin/Carpentersville homes off Randall Rd (Chicago, Naperville: 2014, neighborhoods)

[czaren]

I am looking for a SFH with

> a min of 4 Bed and 3 Baths
> over 3000sqft
> relatively new (not built before 1995).
> My budget is about 325K. but can stretch it to 350K for the right house.
> I work in the loop so access to metra is important and I don't mind driving 10-15 to get to the metra station.
> School districts is important too. Its Ok if its not the best but do not want to be in bad district.

I was suggested to look for homes that are off Randall Rd by the Algonquin Commons mall area which seems to have homes that fit my criteria. However I wanted to reach out to you guys to get your general opinion on homes in this area and possibly other suggestions on where I should be looking for home that fit my criteria.

Thanks in advance!

[holl1ngsworth]

Check Midlothian around the country club, west of Cicero. Oak Forest schools and easy access to Rock Island Metra. Could also look at Oak Forest and Tinley Park. Both are along the RI line.

All three towns, and the southwest burbs in general, have a lot of big post-95 homes for under $350k, as well as easy access to the loop. Speedy Metra service and I-57 is a breeze.

[chet everett]

3000 sq ft for under $325k with at least some kind of access for Metra service does make a good case for the south suburbs. I would probably include Frankfort / New Lenox with the caveat that these are mostly towns where you does need to rely heavily on their personal vehicle and Metra service is not nearly as convenient as towns along the UP-W line or the super speedy along the BNSF.

Taxes in the south / southwest burbs are often shockingly high for what BOE gets too -- $325k with taxes approaching $10k per year often causes folks to rethink their budget...

[Buzz Bee]

There is a pervasive bias against C-Ville in the area, schools there have been rated quite low and if you ever want to sell, you will find this to be an issue. Plus, no one wants to send their kids to sub par schools. Algonquin fares a bit better, so of the two, that would be my choice. But your commute from that area, even on Metra, to the loop, will be long, and traffic on Randall can be hellish.

[holl1ngsworth]

Originally Posted by Buzz Bee

There is a pervasive bias against C-Ville in the area, schools there have been rated quite low and if you ever want to sell, you will find this to be an issue. Plus, no one wants to send their kids to sub par schools. Algonquin fares a bit better, so of the two, that would be my choice. But your commute from that area, even on Metra, to the loop, will be long, and traffic on Randall can be hellish.

This is great advice. There is almost always a reason for enormous newer construction homes to be trading at huge discounts. It's a red flag for many, and an investment opportunity for others.

In the greater Algonquin area and the southwest suburbs prices tumbled hard and fast -- and remain depressed to the tune of 30%+ from '06 levels. On top of this, such areas see significantly less home buyer interest (poor schools, lack of transit, lack of charm, long commute to Chicago, etc.) and as such can sit on the market for upwards of 120+ days.

Compare this to many western suburbs, where home prices are down roughly 10% from 2006 and are making gains monthly -- where homes only take about 90 days on average to sell.

A slightly smaller, slightly older home in the western suburbs might be a better near- to medium-term investment.

[holl1ngsworth]

Attached is a table of single-family home prices from all the suburbs, sorted by net change since 2006, from least to most. (...prices as of March 2013)

No region is better represented at the top then the western suburbs. Hinsdale, Naperville, Wheaton, Elmhurst, Glen Ellyn, Downers Grove, Western Springs, Clarendon Hills, Geneva, Lisle and Oak Park. All have performed very well over the past 8 years.

Compare the top of the list to the towns in question: Algonquin is still down 31%, Carpentersville 39%, Oak Forest 38% and Tinley Park 26%.

Here is the whole table from Chicago Mag: The Latest Chicago Home Price Data | Chicago magazine

Click the column headers to sort.

[cubssoxfan]

Better yet, compromise in favor of your kids. Find a place closer in, a western suburb like Glen Ellyn or NW suburb like Arlington Heights, where you have great schools AND shorter commutes. Why compromise on school quality AND time away from your kids? For what, a newer, "shinier" house?

[yogao]

Elgin west of Randall Road has a couple of newer subdivisions (Providence, Highland Woods). You can easily meet your criteria in one of those neighborhoods. You can even build brand new for less than $325k. It's less than 10 minutes to the Big Timber station. Best part, it's not U46 schools, but Burlington District 301 which is an above average but nothing special school district according to NIU's school report card. They are slightly more expensive than the Algonquin / Carpentersville housing off Randall, but the schools make up for it.

[brian571]

Originally Posted by cubssoxfan

better yet, compromise in favor of your kids. Find a place closer in, a western suburb like glen ellyn or nw suburb like arlington heights, where you have great schools and shorter commutes. Why compromise on school quality and time away from your kids? For what, a newer, "shinier" house?

+1

[middle-aged mom]

Algonquin works except for the commute to Chicago.

Maybe Downers Grove.